Firms that choose to initiate strategic actions are called ________.
A) first movers
B) second movers
C) strategic leaders
D) fast followers

Question

Quizplus · Accepted Answer

First movers are firms that choose to initiate strategic actions, such as introducing new products or entering new markets, before competitors. This gives them a competitive advantage and can help them establish themselves as market leaders. The other options, such as second movers and fast followers, suggest firms that are reacting to strategic actions taken by others rather than initiating them. Strategic leaders may encompass firms that are engaged in strategic decision-making, but this term is more general and doesn't specifically refer to firms that initiate strategic actions.

Firms That Choose to Initiate Strategic Actions Are Called ________